In a recent article featured in the Rochester Business Journal Harter Secrest & Emery partner and corporate attorney Steven Solomon provides insightful commentary on the pressing challenges facing small businesses. Solomon emphasizes the significant impact of higher interest rates on small businesses, leading to increased costs for capital expenditures and difficulties in securing financing. Additionally, he discusses ongoing labor force issues, particularly regarding finding and retaining quality employees, as well as succession planning challenges.
Despite these obstacles, Solomon notes some optimism among his clients, who are adapting to challenges through innovative solutions and leveraging new technologies.
To view the article on Rochester Business Journal’s website, click here.